As one youngster buys a house with his winnings, experts say risk-takers are fuelling an unsustainable market
It was more than just a hunch, says Jacob Foot of his first foray into US tech stock investments back in 2020.
The 23-year-old says he played around with artificial intelligence tools in his first job and thought to himself: this technology is going to be a big deal.
Foot put his savings each month into US shares and in particular the biggest investors in AI, the Magnificent Seven (M7) – for several years the list has included the chipmaker Nvidia, Amazon, Apple, Microsoft, Tesla, Alphabet (the owner of Google) and Meta (the owner of Facebook, Instagram and WhatsApp).
Five years on, Foot expects to complete the purchase of a “bigger house in London than I expected”, a dream he could not have realised without his stock market bets paying off.
